Consumer, labor groups slam tax breaks for builders, banks
Mark Fleming, chief economist at First American Core Logic, gives a reading on where we are in this housing cycle. In this January 2008 interview, Fleming says foreclosure trends will signal the first signs of a turnaround, and so far they hadn’t let up. Like many others, Fleming doesn’t see the downturn reversing any time this year.
Patrick Stone, CEO of The Stone Group, joins InmanTV to share insight into the life of this housing downturn. Stone expects markets will likely hit bottom in 2008, but it’s not going to be an easy lift out. People will need houses, though, and he points out some positive forces working for real estate.